INFOPRODUCTS: AN OPTION FOR ENTREPRENEURSHIP

Accelerate your business with these expert tips on "Infoproducts". Analyse and discover this TIP!

What is an infoproduct and how can it help you monetise your knowledge?

An infoproduct is an digital product containing information or knowledge that is intended to be sold to consumers. These products can take many forms, such as ebooks, online courses, videos, podcasts, webinars and more. Infoproducts have gained popularity in recent years because they allow entrepreneurs to monetise their knowledge and expertise in a scalable and profitable way.

Here are some key benefits of creating and selling infoproducts

• Scalability: Once an infoproduct is created, an unlimited number of copies can be sold without incurring additional production costs. This means that revenues can scale quickly as you sell more.
• Passive income potential: Infoproducts can generate passive income, which means that the creator can earn money even while sleeping. Once the product is published, it can be sold online without the need for constant attention.
• Specialised niche: Infoproducts can target specific niches and cover topics that are not easily or accessibly available on the market. This allows creators to offer unique solutions specific to the needs of their audience.
• Flexibility and freedom: infoproducts allow entrepreneurs to work from anywhere and at any time, which gives them great freedom and flexibility in the way they work.

If you are interested in creating and selling infoproducts, there are some important things to consider. First, you need to have a deep knowledge of your niche market and understand the needs and wants of your audience. Also you must be able to package your knowledge in a way that is easy to consume and valuable to your audience. In addition, you will need tools to create and distribute your infoproduct, such as video editing software, graphic design software or e-learning platforms. It is also important to promote your product through online marketing, paid advertising or social media to reach the right audience.

In short, infoproducts are an excellent opportunity for entrepreneurs looking to monetise their knowledge and expertise in a scalable and profitable way. If you are interested in creating and selling infoproducts, make sure you research your niche market well and have the right tools to create and promote your product. Good luck!

Why is infoproduct a business opportunity for entrepreneurs?

INFOPRODUCT IS A BUSINESS OPPORTUNITY FOR ENTREPRENEURS FOR SEVERAL REASONS:

• Low initial cost: Creating an infoproduct generally does not require a large capital investment, as there is no need to purchase inventory or expensive equipment. The main cost is usually the creator's time and effort.
• Scalability: Once an infoproduct is created, an unlimited number of copies can be sold without incurring additional production costs. This means that revenues can scale quickly as you sell more.
• Passive income potential: Infoproducts can generate passive income, which means that the creator can earn money even while sleeping. Once the product is published, it can be sold online without the need for constant attention.
• Specialised niche: Infoproducts can target specific niches and cover topics that are not easily or accessibly available on the market. This allows creators to offer unique solutions specific to the needs of their audience.
• Flexibility and freedom: infoproducts allow entrepreneurs to work from anywhere and at any time, which gives them great freedom and flexibility in the way they work.

The infoproduct is an attractive business opportunity because it offers a cost-effective, scalable and flexible way to monetise the creator's knowledge and expertise. In addition, a global audience can be reached without the need to set up a costly and complex production and distribution infrastructure.

Examples of successful start-ups based on infoproducts

There are several success stories of start-ups that have emerged from the creation and sale of infoproducts.

SOME NOTABLE EXAMPLES ARE:

• Udemy: is an online learning platform that offers courses in a wide variety of subjects, from programming to photography and graphic design. The company was founded in 2010 and has grown rapidly, with over 130,000 courses available on the platform and over 40 million students worldwide.
• Pat Flynn - Smart Passive Income: Pat Flynn is an entrepreneur who has created several infoproducts, including online courses, e-books and podcasts. His website, Smart Passive Income, has become a popular resource for those looking to build online businesses and generate passive income.
• Marie Forleo - B-School: Marie Forleo is an American entrepreneur, author and television host. In 2010, she launched her online coaching programme, B-School, which has helped thousands of entrepreneurs launch and grow their online businesses.
• Tim Ferriss - The 4-Hour Work Week: Tim Ferriss is an entrepreneur, author and podcaster who has created several successful infoproducts. His most famous book, The 4-Hour Work Week, has become a New York Times bestseller and has inspired many to look for ways to work more efficiently and automated.

In summary, these are just a few examples of successful businesses that have emerged from the creation and sale of infoproducts. These cases demonstrate that there is a huge demand for information and knowledge online, and that there is enormous business potential for those who can create and sell high-quality infoproducts in specific niches.

An infoproduct is essentially a digital training tool. The process of creating an infoproduct is very simple: an expert detects a lack or training need on the part of a certain market segment in his or her area of knowledge. In order to satisfy this demand, the expert develops a digital product in the form of a course, method, book, etc. It proposes a process of transformation that leads individuals from point "A" of need or lack to point "Z", where that need has been satisfied through the acquisition of knowledge and skills applicable both personally and professionally. 

An innovation in the field of training: A promising future

Training in the era in which we live is a fundamental way to achieve employability, self-employment or entrepreneurship goals. The Alarming levels of youth unemployment and job dissatisfaction in companies suggest that the time has come for innovation. generating new, effective and immediately applicable training formulas. This requires experts to share their knowledge by digitising it and making it accessible to those who need it. Clearly, it must make a profit for doing so. 

E-learning is emerging as the training driver of the future. According to a survey by Global Shapers, 78% of young people around the world claim to have taken an online course, but the important thing is that there is a generation of digital natives who are beginning to have purchasing power and who are hungry for up-to-date knowledge, aware that what they have learned at university is likely to become obsolete in the short to medium term. In Spain, there has been an increase of 144% of students who took online courses in 2020 compared to 2015.

Online training has enormous advantages for those who want to train: You don't have to travel, you can do it from anywhere, students can download content and view it offline, you can do the course at your own pace. Moreover, there are all kinds of courses, duration, formats, objectives, etc. But for those who think that we are talking about a saturated market, it is good for them to know the evolution of more advanced markets in this sense, such as the United States or Brazil. In this way, they will become aware of how much the infoproduct market in Spain can grow over the next few years. In addition, the Spanish infoproduct entrepreneur has a huge potential market in Latin America, including the United States.

It is interesting to review the most popular infoproduct content today: 

• How to earn money, new professions, extra income, etc.
• Health, fitness, nutrition
• Personal development.
• Hobbies, languages.

HOW DO YOU MAKE AN INFOPRODUCT?

Infoproducts are developed using various multimedia supports, such as videos, PowerPoint, supporting readings, exercises and tests. Gamification techniques are also often used in order to encourage the learner to progress through the content and achieve specific objectives. Automation is very important, as it is a scalable product, it is not possible to provide individualised monitoring for each participant, especially considering that they are free to take the course at their own pace. An important aspect is the integration of the course into an LMS platform such as Moodle, Canvas or similar. Many of them have a free version. In the following link (+) you will find a comparative analysis between different training platforms.

KEY SUCCESS FACTORS FOR INFOPRODUCTS:

An infoproduct is a way to make training more accessible to more people, it is scalable and automatable which makes it especially attractive for Internet entrepreneurship. But the bottom line is that it is a way to monetise the expertise and passion that the expert feels about a given topic.  Product, strategy and traffic are the three key variables for successful infoproduct marketing. We take a look at each of them,

PRODUCT

As mentioned above, the infoproduct seeks to generate a process of transformation in people and it is there where the sales argumentation must be based:

• Learn English to find a job, learn how to use this application and increase your productivity, surprise your friends by playing the guitar, follow this method and improve your health.

In the commercial discourse we have to emphasise the result that the client will get and how it will change his or her life after going through the course. The promise is, together with the quality of the course, the most important thing.

STRATEGY

This obviously refers to the way in which we intend to publicise and sell the product. The seed launch is an option that follows a process with the following stages: 

• Course information. 
• Registration. 
• Free Master Class or Workshop. 
• Sales Webinar. 
• Validation of the product and the offer.

Another strategy is the beta launch, which involves developing the product in contact with the first customers. It is a kind of expeditionary development that allows the content to be adapted to the customer's needs from the outset. Automated funnel is another option: You make an ad on social media offering something for free, they get to registration page, lead capture, take them to the free webinar, Sale.

TRAFFIC

Traffic, as is well known, can be generated organically on social networks, with paid formulas such as Google Ads, or through your own means. You can also resort to affiliate marketing, which consists of getting influential people to recommend the infoproduct on social networks. If you opt for the organic route, it is important that you develop a good inbound marketing strategy and offer free content as a "taster". 

There are specific platforms designed for the sale and payment of infoproducts that have their drawbacks, but also their advantages, such as the fact that they allow the expert to avoid many headaches when hosting and selling his or her course. In the following link you will find an analysis of various options including the WordPress plugin. Entrepreneurship, through infoproducts, can have two triggers. The first is creating a business exclusively dedicated to the production and sale of digital products and the second to create a new line of business within an existing activity. It would be a way to capitalise on the experience gained in a particular field of activity, either option could be interesting!!!!